AT&T (NYSE:T – Free Report) had its price target decreased by Wells Fargo & Company from $25.00 to $24.00 in a report published on Thursday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the technology company’s stock.
A number of other brokerages have also issued reports on T. Royal Bank of Canada raised their price target on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Moffett Nathanson lifted their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. TD Cowen boosted their target price on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Barclays raised their price target on shares of AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, The Goldman Sachs Group started coverage on shares of AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $23.40.
Read Our Latest Stock Analysis on AT&T
AT&T Trading Down 1.7 %
AT&T (NYSE:T – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. As a group, analysts expect that AT&T will post 2.22 EPS for the current year.
AT&T Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.08%. AT&T’s dividend payout ratio is presently 59.68%.
Institutional Investors Weigh In On AT&T
A number of institutional investors have recently added to or reduced their stakes in T. Strategic Financial Concepts LLC boosted its stake in AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after acquiring an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. lifted its holdings in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the last quarter. American Capital Advisory LLC boosted its position in shares of AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in AT&T during the 2nd quarter worth $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in AT&T by 176.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after buying an additional 1,192 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.
AT&T Company Profile
AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.
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